Shorts sending out low ASK bids to work the share price down using inventory shares bought on the cheap and through reverse conversions. Seen this happen every time there is GOOD news , they are trying to scare you out of keeping your shares based on their ability to work the price down in short periods of time and hoping the herd will follow and sell making their shorts money.
If all the large companies are trimming cap ex to heal the balance sheets and improve earnings numbers for 2014, I see this as a positive for SDRL as they already have the equipment and will have less competition ---- the smartest guy in the room ( JF ) went on his buying binge to eliminate competition of having the competing equipment, to date I think his thesis is still a good one. The analysts whacking the stock so they can buy on the cheap is nothing new, look for SDRL to be in the upper 40s by years end as oil goes up as the dollar keeps going down and there is nothing to stop that trend.
Oil is NOT going to go down in cost, due to the ever widening federal deficit and Obama politically choosing to NOT reduce the Federal workers and social security scheduled inflation reductions, so as UCO keeps going up so will the rig rates and the barrel is still way above its $80.00 intrinsic international floor cost. JF has the internal wealth to leverage the financing rates so SDRL will survive and in the meantime pay hefty dividends, the worst that could happen is a modest div cut which will ultimately be good if you hold on.